Sputnik news agency commented that Vietnam is a rising star in the global semiconductor industry while channelnewsasia and Chosun Ilbo also said that Vietnam is attracting the attention of many corporations in the industry.
Sputnik (Russia) recently published an article stating that Vietnam is a rising star in the global semiconductor industry, while many other foreign media sites such as channelnewsasia.com (Singapore) or Chosun Ilbo (South Korea) also said that Vietnam is receiving attention and increasing investment from many corporations in the semiconductor industry.
In the context of increasingly complex global political and economic situations, Vietnam is emerging as a potential semiconductor hub. Vietnam has become an attractive destination for international semiconductor manufacturers such as Samsung, Intel and LG to set up production and research facilities.
Recently, Vietnam has also welcomed many large technology corporations such as Nvidia, Apple, SpaceX, Qorvo, Marvell, Intel... to research and deploy investment projects in the semiconductor and AI fields, to develop the semiconductor and AI industry ecosystem in Vietnam.
Several global semiconductor companies have established a presence in Vietnam to design chips as well as assemble, test and package them. “Part of the reason we are here is because we follow our customers,” said Steven Lim KT, vice president of strategic projects at Besi Vietnam.
After Samsung Display built a new 2.4 trillion won OLED factory in Vietnam, Samsung Electronics’ partners are also investing in Vietnam. Signetics, a South Korean semiconductor packaging company, plans to invest $100 million to set up a manufacturing plant in Vinh Phuc province. Germany’s Infineon, the world’s largest automotive semiconductor company, has also increased its investment in Vietnam since 2023.
With strong support policies from the government, Vietnam's position in the global semiconductor industry is gradually improving and developing.
According to Sputnik, many experts believe that the presence of technology FDI giants in Vietnam has contributed to further strengthening Vietnam's position in the global supply chain.
The agency quoted Ms. Linda Tan, President of the Semiconductor Industry Association (SEMI) Southeast Asia, speaking at the seminar "Semiconductor Industry Strategy, New Driving Force for Vietnam and Hanoi," held on the morning of December 3 in Hanoi, calling Vietnam a "rising star" in the global semiconductor industry when in 2024, the revenue of this sector is estimated to reach 18.23 billion USD, an increase of 11.48% over the same period.
Experts highly appreciate the specific and ambitious strategies in the short and long term with 3 stages until 2050 proposed by the Vietnamese Government.
Previously, channelnewsasia.com (Singapore) also said that the Vietnamese Government has a bold vision to develop a large-scale semiconductor ecosystem in the next 25 years, aiming to train at least 4,000 engineers each year.
Although slower than some neighboring countries in the region such as Malaysia in developing the semiconductor industry, Vietnam is still attracting the attention of many corporations in the industry. Famous semiconductor chip designers such as Intel and Amkor have established facilities in Vietnam, attracting young and potential human resources.
Mr. Kay Chai Ang of SEMI Southeast Asia regional industry association said that Vietnam is rapidly becoming a semiconductor powerhouse in Southeast Asia and is well positioned to contribute to every step in the value chain.
“This growth is driven by strategic investment and a long-term vision from the Vietnamese Government to build a comprehensive semiconductor ecosystem by 2050 from integrated circuit design, to assembly testing and packaging.”
A recent report by the ISEAS-Yusof Isaac Institute of Southeast Asian Studies (Singapore) assessed that Vietnam has the opportunity to transform its economic growth model from labor-intensive industries to high-tech industries centered on semiconductors, in line with the trend of reorganizing the global supply chain.
As a country located in the heart of Southeast Asia, Vietnam is easily connected to major markets in the region such as Singapore, Malaysia, Thailand and Indonesia, making it an ideal location to set up a semiconductor manufacturing and distribution base for the region.
In addition, with its geographical location adjacent to China and close to India - two large markets with high demand for technology products, Vietnam can take advantage to expand exports and attract investment from companies wanting to access these markets./.
Source: https://www.vietnamplus.vn/truyen-thong-nuoc-ngoai-viet-nam-la-ngoi-sao-moi-noi-tren-thi-truong-ban-dan-post999901.vnp
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